ENTREC Corporation (TSX:ENT) entered into a letter of intent to acquire Capstan Hauling Inc. on August 8, 2018. Following completion of the acquisition, Entrec plans to merge Entrec’s Grande Prairie oilfield transportation division with Capstan and operate the combined business under the Capstan brand. The shareholders of Capstan will also retain a large ownership interest in the combined business post-acquisition and the existing Capstan management will lead and manage the combined business going forward. The transaction is subject to a number of conditions, including the execution of a definitive share purchase agreement. The transaction is expected to close in September, 2018.